MIRATHERM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MIRATHERM
Largest movements
- Receivables within one year -€293,424
down €293,424 (-62.2%), from €471,730 to €178,306
of which Other amounts receivable: -€316,248
- Cash -€51,588
down €51,588 (-47.4%), from €108,911 to €57,323
mainly Other debts (-€352,922) and Investment in fixed assets (net) (-€9,911)
- Other debts -€352,922
down €352,922 (-71.5%), from €493,605 to €140,683
- Current portion of long-term debt +€7,470
up €7,470 (+70.1%), from €10,662 to €18,132
- Tax, wage and social debts +€7,455
up €7,455 (+18.8%), from €39,567 to €47,022
of which Taxes: +€3,740
- Debts after one year -€7,236
down €7,236 (-25.8%), from €28,100 to €20,864
- Turnover -€945,788
down €945,788 (-100%), from €945,788 to €0
- Purchases and services -€648,495
down €648,495 (-100%), from €648,495 to €0
- Staff costs +€82,036
up €82,036 (+66.2%), from €123,894 to €205,930
- Gross operating margin -€45,082
down €45,082 (-15.1%), from €299,004 to €253,922
- Taxes -€21,108
down €21,108 (-50.9%), from €41,500 to €20,392
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €632,007 | €281,575 | -€350,431 | -55.4% |
| Fixed assets | 21/28 | €46,660 | €43,792 | -€2,868 | -6.1% |
| Tangible fixed assets | 22/27 | €45,297 | €39,175 | -€6,122 | -13.5% |
| Plant, machinery and equipment | 23 | €1,814 | €3,611 | +€1,796 | +99.0% |
| Furniture and vehicles | 24 | €43,483 | €35,564 | -€7,919 | -18.2% |
| Financial fixed assets | 28 | €1,363 | €4,617 | +€3,254 | +239% |
| Current assets | 29/58 | €585,346 | €237,784 | -€347,563 | -59.4% |
| Amounts receivable within one year | 40/41 | €471,730 | €178,306 | -€293,424 | -62.2% |
| Trade receivables | 40 | €116,385 | €139,208 | +€22,824 | +19.6% |
| Other amounts receivable | 41 | €355,345 | €39,097 | -€316,248 | -89.0% |
| Cash at bank and in hand | 54/58 | €108,911 | €57,323 | -€51,588 | -47.4% |
| Deferred charges and accrued income | 490/1 | €4,705 | €2,155 | -€2,551 | -54.2% |
| Total equity and liabilities | 10/49 | €632,007 | €281,575 | -€350,431 | -55.4% |
| Equity | 10/15 | €21,155 | €16,921 | -€4,234 | -20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €2,464 | €2,464 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €604 | €604 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91 | -€4,143 | -€4,234 | |
| Amounts payable | 17/49 | €610,852 | €264,654 | -€346,197 | -56.7% |
| Amounts payable after more than one year | 17 | €28,100 | €20,864 | -€7,236 | -25.8% |
| Financial debts | 170/4 | €28,100 | €20,864 | -€7,236 | -25.8% |
| Amounts payable within one year | 42/48 | €582,752 | €243,790 | -€338,961 | -58.2% |
| Current portion of amounts payable after more than one year | 42 | €10,662 | €18,132 | +€7,470 | +70.1% |
| Trade debts | 44 | €38,918 | €37,954 | -€964 | -2.5% |
| Suppliers | 440/4 | €38,918 | €37,954 | -€964 | -2.5% |
| Taxes, remuneration and social security | 45 | €39,567 | €47,022 | +€7,455 | +18.8% |
| Taxes | 450/3 | €36,096 | €39,836 | +€3,740 | +10.4% |
| Remuneration and social security | 454/9 | €3,470 | €7,185 | +€3,715 | +107% |
| Other amounts payable | 47/48 | €493,605 | €140,683 | -€352,922 | -71.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €945,788 | €0 | -€945,788 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €648,495 | €0 | -€648,495 | -100% |
| Remuneration, social security and pensions | 62 | €123,894 | €205,930 | +€82,036 | +66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,769 | €12,779 | -€3,990 | -23.8% |
| Other operating charges | 640/8 | €5,974 | €18,755 | +€12,781 | +214% |
| Gross operating margin | 9900 | €299,004 | €253,922 | -€45,082 | -15.1% |
| Operating profit (loss) | 9901 | €152,367 | €16,457 | -€135,910 | -89.2% |
| Financial income | 75/76B | - | €1,638 | +€1,638 | |
| Recurring financial income | 75 | - | €1,638 | +€1,638 | |
| Financial charges | 65/66B | €1,655 | €1,937 | +€283 | +17.1% |
| Recurring financial charges | 65 | €1,655 | €1,937 | +€283 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €150,712 | €16,158 | -€134,554 | -89.3% |
| Income taxes | 67/77 | €41,500 | €20,392 | -€21,108 | -50.9% |
| Profit (loss) for the period | 9904 | €109,212 | -€4,234 | -€113,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,212 | -€4,234 | -€113,446 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.